ELGI EQUIPMENTS IN UPTREND RANGE...NSE:ELGIEQUIP trade at 730 level. Stock trade in a uptrend range. So you can watch for an upside move...
ELGIEQUIP
ELGIEQUIP potential breakout - Head & Shoulder pattern.
- Minicoil formation.
- Volume contraction.
- Low risk entry point.
- Strong prior buying force with good volumes.
ELGI EQUIPMENT LTDThis stock breakout recent high and further up move will come TGT upto 915 SL bellow 645 and this analysis only for educational purpose
ELGI EQUIPMENTSStock has shown reversal from 9 day ema several times and has shown good move,
The same move can be seen now as well.
Stock taken support at 460 level multiple times .
From here it can show good upmove and head towards 550-600 levels.
Stock has also broken from falling trendline in short term.
It has high beta and good volatility
Trendline Breakout in Elgi Equipments Limited...Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Elgiequip view for 10th FebElgiequip view for 10th Feb
Some momentum expecting above 444
Please follow strict risk reward and stop loss
Thanks
V Trade Point
Elgi equipment: soon to breakoutElgi equipment is close to its immediate resistance. Wait for the price to go above the breakout zone. Regression is possible. Keep on radar. # elgi equipments # breakout soon
Elgie Equipments BreakoutThe stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 2:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Neat clean breakout in Elgi EquipmentThe stock has given a breakout once again after a small correction. It is ready for next phase of movement. Short term and medium term targets have been given in charts. Keep liberal stop loss of 160 initially and once the stock goes in our direction then trail the stop loss to our buying price.
